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Tietto asks investors to accept Zhaojin's offer or sell shares
Published: 30 Apr 24
Australia's Tietto Minerals has urged its shareholders to accept Zhaojin Mining's offer that values the firm at A$733-million or sell shares on-market if the market price is not materially different to the offer price. Shares of the Perth-headquartered gold miner slid 2.2% to A$0.66 after the announcement on Tuesday, heading for their biggest drop in more than a week.
Anglo will hold its AGM in London on Tuesday Anglo under pressure to reveal plans to fend off BHP as Elliott hikes stake
Published: 30 Apr 24
Anglo American faced calls from shareholders on Monday to detail plans for improving its value in order to fend off bidder BHP, as activist investor Elliott further raised the stakes by increasing its holding in the takeover target. BHP, the world's biggest listed mining group, is privately talking to investors about a potential revised takeover bid as it weighs up next moves after an initial $39-billion gambit for its smaller competitor was rejected by Anglo last week. Elliott Investment Management meanwhile said in a stock exchange filing on Monday it had raised its position in London-listed Anglo to 2.6% from about 2.5% it disclosed on Friday.
G7 nations to agree on first half of 2030s for coal phase-out G7 nations to agree on first half of 2030s for coal phase-out
Published: 30 Apr 24
Group of Seven nations have agreed to target the first half of 2030s to phase out coal, according to the UK’s energy and nuclear minister, a key milestone for some of the world’s most industrialised economies seeking to switch to more sustainable fuels. “To have the G-7 nations come around the table and send that signal to the world, that we, the advanced economies of the world, are committing to phasing out coal by the early 2030s is quite incredible,” Andrew Bowie told Class CNBC, calling the agreement “historic".
The Bulga complex in Australia Top Glencore shareholders favour keeping coal over spinoff
Published: 30 Apr 24
Several of Glencore’s largest shareholders believe that the company should retain its coal assets, according to people familiar with the matter, throwing a proposed spinoff into doubt. Glencore, the world’s largest shipper of thermal coal with a market capitalization of about $73-billion, had said it intended to spin the business off within two years of closing a deal to buy the steelmaking coal assets of Teck Resources.
Japanese to partner on Kalgoorlie nickel project
Published: 29 Apr 24
Japanese multinational companies Sumitomo Metal Mining (SSM) and Mitsubishi have thrown their weight behind the Kalgoorlie nickel project – Goongarrie hub, in Western Australia. ASX-listed Ardea Resources on Monday announced a binding cooperation agreement between SSM and Mitsubishi to form a 50:50 joint venture to develop the project.
An image of Forestry, Fisheries and the Environment Minister Barbara Creecy NCOP approves Climate Change Bill
Published: 29 Apr 24
The National Council of Provinces (NCOP) has approved the Climate Change Bill. “The Climate Change Bill will provide the much-needed legal framework to regulate activities that contribute to climate change; ensure an effective response in all spheres of government and by society at large; ensure a just transition; and maximise the opportunities afforded to our economy by the global shift to a green economy,” says Forestry, Fisheries and the Environment Minister Barbara Creecy.
President Cyril Ramaphosa's spokesperson Vincent Magwenya South Africa views BHP bid for Anglo as 'normal market activity'
Published: 29 Apr 24
South Africa views BHP Group's proposed bid for Anglo American as "normal market activity" and is following the process as it unfolds, President Cyril Ramaphosa's spokesperson said on Monday. BHP is considering making an improved offer for Anglo American after its $39 billion initial proposal was rejected by the London-listed miner, a source told Reuters last week.
Nuclear associations call on G7 States to strengthen the sector to fight climate change
Published: 29 Apr 24
Eight major international and national nuclear industry associations have urged the Group of Seven (G7) major democratic industrial economies to take steps to further develop nuclear energy capacity and technology, to help counter climate change. They also welcomed the opportunity to provide input to the G7 Climate, Energy, and Environment Ministers meeting, currently under way in Turin, Italy. (The G7 countries are Canada, France, Germany, Italy, Japan, the UK and the US, while the European ...
River Doce in Minas Gerais in 2022. The Samarco dam collapse destroyed land along the river's banks. Vale, BHP propose $25bn settlement for Mariana disaster reparations
Published: 29 Apr 24
Vale, BHP and their joint venture Samarco have presented Brazilian authorities with a settlement proposal related to reparations for the 2015 Mariana tailings dam burst, which killed 19 people and left hundreds homeless. The proposal, the Brazilian mining giant said in a securities filing on Monday, foresees a total payment of 127-billion reais ($24.88-billion), including 37-billion reais already disbursed.
Citrus fruit being picked CGA, ECDC to spend R1.2m on capacitating ten Eastern Cape citrus farmers for exports
Published: 29 Apr 24
The Grower Development Company of the Citrus Growers’ Association of Southern Africa (CGA) has partnered with the Eastern Cape Development Corporation (ECDC) to bolster commercialisation prospects for black farmers producing citrus in the province. The 18-month agreement signed between the parties will support the commercialisation activities of ten black farmers out of 37 known producers in the Eastern cape, as well as break down the barriers to entry to the export market.
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